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The Oil Ministry is seeking to increase production in the coming months

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Rocky


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The Oil Ministry is seeking to increase production in the coming months



November 18, 2015  0


Our economy / Baghdad

The Ministry of Oil, on Wednesday, it is seeking to reach a production of more than four million barrels per day in the first half of 2016, as pointed out that the reduction of the investment program of energy did not achieve a significant increase in production.

Said Undersecretary for liquidation Dhia al-Musawi: The ministry is seeking within their plans to reach a production of more than four million barrels per day in the first half of 2016 and an increase of unexpected 100 000 barrels per day, explaining that "crude oil production is currently less than four million barrels a day."

Al-Moussawi said, that the ministry is focusing on increasing energy to provide greater resources to the state through national effort and focus on the activation of the Iraqi Drilling Company and oil projects and engineering equipment and local contractors.

Musawi said that the investment program to reduce the energy in the latter half of 2015 did not lead to a substantial increase in production.

The Ministry of Oil during the current period to increase its oil production to compensate for the resulting decline in global oil prices, which amounted to less than $ 50 per barrel after having links to the price of $ 116 in mid-2014 losses.

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